Getting a mortgage? Your lender probably wants you to get mortgage insurance. But hold on a sec – it might not be the best way to protect your family and finances.
Here’s the deal with mortgage insurance:
It pays off your mortgage if you die. Which sounds good, right? But here’s the catch: each payment you make reduces the amount of coverage, meaning you’re paying for less protection over time.
It often covers both borrowers. This can make it more expensive than other types of insurance, especially if only one person earns income.
Why we think there’s a better way:
- Regular life insurance is more flexible: You can customize your coverage amount and choose a plan that fits your specific needs and budget.
- You can shop around for the best rates: Working with an advisor like easyLife can save you money.
- You’re in control: With a regular life insurance policy, your beneficiaries receive the payout and can decide how to use it.
Let’s chat about your options! We can help you find a life insurance plan that protects your family and your finances, all at a price that makes sense.